Fitch rates New Development Bank AA+

Fitch Ratings said it assigned New Development Bank a long-term issuer default rating of AA+ with a stable outlook.

The agency also assigned a short-term issuer default rating of F1+.

The bank's liquidity is assessed at aaa.

“Our assessment of NDB's risk profile as low balances the bank's low credit-risk, its strong risk management policies as well as its high-risk concentration metrics,” the agency said in a news release.

Fitch said it understands that the bank will lend to sovereign and non-sovereign entities based within its five founding member states, which had an average rating of BBB- at end-2017.

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